It has been announced that the Dubai Municipality (DM) and Community Development Authority (CDA) launched The “Kaseb” initiative, a program providing UAE citizens a promising lifeline to set up their own small businesses in their country. It will provide them with investment opportunities in small projects without the need for government funding.
Other focus areas of Kaseb will include developing the skills of Dubai’s citizens to take advantage of opportunities offered by the market, and maximizing the potentials of every citizen to establish profitable and sustainable businesses.
Emirati social media executive Al Mazoun Al Hemeiri says that the initiative sounds promising. “His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is always telling his people ‘don’t just settle for the 9 to 5, get experience and look to open your own business’. His words around entrepreneurship inspire everyone and I think this initiative really grasps that message well,” Al Hemeiri tells us.
The CDA and DM are in talks with several government departments in Dubai to collaborate with them on this project. In reference to the number of people thought to benefit from the program, Al Kamda said CDA currently has about “400 registered financial beneficiaries” on its list, but he affirmed this program is “open to all low-income UAE citizens who are able to work”.
One of the main features of Kaseb is turning empty or unused land plots into parking lots. The Return of Investment (ROI) reflecting the number of parking lots leased under the program will be reported to the Dubai Municipality, and appropriate support will be given to further reduce parking lot shortages in some places in Dubai. Provided by the Dubai Municipality, the beneficiaries will be urged to manage the parking lots which in turn will address the lack of parking spaces in Dubai. The resulting profits will be used for the community program’s continuity, which at present has no end-date.
WE SAID THIS: Both Hussain Nasser Lootah, Director-General of Dubai Municipality and Al Kamda signed the agreement on the sidelines of Careers UAE at the World Trade Centre on Wednesday.